Manufacturers of soy protein are betting stakes on eco-friendliness and sustainability to attract consumers. They are seeking profitability prospects in the growing preference towards plant-based food products. Trends like veganism are strengthening the growth trajectory of the soy protein market.
Manufacturers of soy protein are betting stakes on eco-friendliness and sustainability to attract consumers. They are seeking profitability prospects in the growing preference towards plant-based food products. Trends like veganism are strengthening the growth trajectory of the soy protein market.
The global soy protein market is set to grow at a moderate rate during 2019-2029. Market players are expanding their footprint in the soy protein market to acquire consumer segment drifting away from meat and dairy products. Manufacturers are advertising their soy protein products as a non-GMO protein source to target health-conscious consumers and athletes. Established companies are launching new products with attractive flavors and texture to stay at the forefront of the competition.
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Soy Protein Market: Key Growth Drivers
- Meat-like texture and taste surges demand for soy protein, significantly boosting the growth in the market.
- Technological advancements are boosting offerings of soy protein, enhancing the market competition and growth
- The rise in the trends of veganism and flexitarian diet is surging the adoption of soy protein products
- The growing popularity of soy protein amongst health-centric consumers as a health food is imparting growth to the market.
- Soy protein is gaining immense popularity as animal feed, adding a different dimension of growth in the market.
Soy Protein Market: Key Takeaways
- Increasing consumption of soy protein in nutraceutical products will generate significant revenue prospects in the market.
- North America and Europe will experience high demand for soy protein owing to its consumption as animal feed in the regions.
- Organic soy protein is gaining rapid traction in North America and Europe owing to the augmenting preference towards organic food.
- The sports segment will exhibit accelerated growth in demand for soy protein as stamina and strength building products.
Soy Protein Market: Key Restraints
- Lack of standard process for quality check of soy protein products is a major challenge before the governing authorities.
- The absence of one single streamlined platform for soy protein products creates a collaboration block amongst manufacturers, hindering the robust growth of the market.
Explore the complete soy protein market report with detailed market segmentation, 106 illustrative figures, and 80 data tables spread across 305 pages on https://www.persistencemarketresearch.com/market-research/soy-protein-market.asp
Soy Protein Market: Market Competition
Key players in the market are launching new products in the market to gain a competitive edge. For instance, DuPont launched soy protein-based nuggets in the market to strengthen its foothold in the soy protein market. Another company, Archer Daniels Midland Company, is expanding its market by investing in Beyond Meat, a manufacturer of plant-based protein products.
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About the Report
This report offers an analysis of the major trends in the industry influencing the performance of the soy protein market. The study gives important insights into the soy protein market and covers changing market dynamics, revenue analysis, pricing structure, and major collaborations involved in the soy protein market expansion. Readers can also understand about major market trends and growth scenarios based on nature, form, and end-use across seven major regions.
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